Posted by KW L > 2023-11-10 16:28 | Report Abuse

FBM can still be sold, I think not to those middle east companies probably due to political issues.

Posted by KW L > 2023-11-10 16:31 | Report Abuse

The management is aware of this condition but never seek initial guidance from the Italian govt.

Posted by OtisKL > 2023-11-10 18:28 | Report Abuse

@KWL, noted with thanks. I reckon so too. On the positive side, we know that Italian government considers Malaysia as a friendly nation.

Posted by maxwin69 > 2023-11-10 18:49 | Report Abuse

Yes, OtisKL, KW L is right. FBM can still be sold. The problem is not that the Italian gomen don't allow it to be sold. They only have issue with this particular buyer, especially due to current Palestinian conflict. That buyer is from a country friendly with Hamas. So, now we either find a buyer from another country or we still sell back to this interested and rich buyer but using higher corporate structuring skills. Without mentioning names, haha... the guy handling this project didn't know how to handle properly and bungled up. From one standpoint it's a hilarious situation. On the other hand it causes more stress on Tunku, because he got KPI ma. We are all watching. He need to nail this. Good luck to Tunku. Hope he fix this project soon.

Posted by maxwin69 > 2023-11-10 18:53 | Report Abuse

On a side note, more Palestinians are coming out to say they don't like their Hamas gomen who has not held elections since 2006. In fact, a majority of Palestinians don't like Hamas. Their brutality, barbarism etc are coming out into the open. More and more countries are acknowledging that Hamas is a terror organisation and Western countries like the US will sanction any country that are friendly with Hamas. That means Malaysia, with our PM and former PM Mahathir, on kissing terms with Hamas and their top leaders. You can google "Anwar or Mahathir and Hamas" and see all the news and photos on how friendly they are.

Now I'm not only worried for KNM. I'm worried for Malaysia kena sanctioned. Adoi...

Posted by Michael Kwok > 2023-11-10 19:32 |

Post removed.Why?

Posted by KW L > 2023-11-10 20:48 | Report Abuse

KNM wasted one year plus on FBM disposal and yield no results. Honestly, this is very disadvantage to the coming 14 Nov case.

Posted by OtisKL > 2023-11-10 21:42 | Report Abuse

@Maxwin69, thanks for the clarification, truly appreciate it. Of course, the middle east conflict may bring down several countries together, but keeping quiet logically speaking a bit selfish, and involving too much also gives trouble. In my personal opinion, I might be wrong, the interpretation I can envision Hamas and Tamil tigers in Sri Lanka sounds similar. A rebel group that started for good cause may have gone off track.

If most countries busy with the conflict, including China that sent its troops to suez canal region, and US sent their biggest ships, all neighbouring countries including Egypt and Syria armies at borders, its like a fire 🔥 and petrol ⛽️ next to each other... one misstep, H...A...B...I...S

Posted by Selena Yeoh > 2023-11-11 08:01 | Report Abuse

Yes, you're right. Shareholders want to be updated on what's happening to the company. When things are not going smoothly and they are in the dark they will vent their frustration during AGM and vote against the management.

But that's human nature, right? People don't like to admit their mistakes. The Devil is in the execution. Like they always say, the idea is there. Yes, we can have good ideas and strategies but they need skill to be executed. That's the difficult part and that is what KNM is facing right now.

There are very few people like Warren Buffett who can own up and say, Look guys, sorry I made some mistakes and caused you to lose money.

The good thing is that Tunku knows exactly what went wrong and he can got the right guys to fix it.

Posted by KW L > 2023-11-11 12:50 | Report Abuse

If Tunku is so good, what has he fixed over the last few years when he is in control?

Posted by KW L > 2023-11-11 12:50 | Report Abuse

Action speaks louder than words

Posted by i3lurker > 2023-11-11 13:18 | Report Abuse

the future is known...............will be delisted and liquidated by auction to highest bidder.

return to shareholders = RM0.0000000000000 per share

the best way.

Posted by maxwin69 > 2023-11-11 15:02 | Report Abuse

Tunku took over as Chairman exactly one year ago. Within weeks the company went under PN17, the leftover pile of shit from previous management. He needed time to assemble his team of professionals to handle the business part ie marketing, look after production and look for funding. He needed another corporate team for corporate structuring which includes selling off loss-making subsidiaries and listing of Borsig. Shareholders are now still giving him a chance to perform, without disturbing him too much. At the same time, German guy and Flavio/Tan trying to overthrow him from inside. Hopefully now he has some breathing space to make things happen. He knows a lot of people are impatient oredi. The ship is on fire and sinking fast.

Posted by MrMojo > 2023-11-11 17:19 | Report Abuse

Fun fact.
Knm went into pn17 officially on 1 nov 22. Now its only been a year.
TY became chairman on feb23
Its quite true he inherited lots of sampah from previous management.
Who knows what the previous guys did.

Posted by MrMojo > 2023-11-11 17:20 | Report Abuse

But TY must have known knm got lots of sampah too. Regardless, maybe he can help or maybe just not enough time

Posted by MrMojo > 2023-11-11 17:21 | Report Abuse

Maybe german sausage can pull his weight around now hehe

Posted by rotikong > 2023-11-11 17:29 | Report Abuse

Counter ni sudah closing

Posted by OtisKL > 2023-11-11 19:09 | Report Abuse

@maxwin69, thanks for putting facts into perspective. It's already 2 red flags for 2 consecutive weeks. Left 1 more to go, the Borsig IPO.

Although we can read the articles and judgement, due to intervention of insiders, nevertheless, these shouldn't be overlooked as frivolous and they could be avoided. Not easy but doable.

Posted by OtisKL > 2023-11-11 19:17 | Report Abuse

@MrMojo, why would the German team help the company when their plans were rejected? Remember, bulk of his shares were from assignment contract. RM600mil issuance of new shares is crazy, placing bonds in European institutional markets currently not advisable unless someone doing a favour. Most other plans were revival of stalled projects like WTE London, FBM Hudson and ethanol Thailand projects, these take time more than 3yrs to produce revenue for the company.

Posted by KW L > 2023-11-11 22:26 | Report Abuse

Tunku became director in Nov 2021, he already controlling the whole board at the time. Exactly 2 years by now and it seems he has zero progress. What did his men do to KNM?

Posted by MacDee34 > 2023-11-12 09:58 | Report Abuse

It is good to see more truth being revealed on this knm management team. It has not been a secret that Golden Powers would not be able to approve the fbm deal. They just wanted to use it to appear as if they were doing the job. Clearly TY and his yes men have no clue what they are doing.

I learned last week that in thailand that CGIF has started foreclosure proceedings on the Thai asset. This is thenethanol plant that needs to be turned back on to produce revenue for KNM.

This should have been a material announcement to the market. Not hidden behind a bogus plan to asset strip the company.

It is time this KNM Board of Directors stands down. The level of incompetence is overwhelming.

Posted by MrMojo > 2023-11-13 11:26 | Report Abuse

German team taking over?

Posted by kion11 > 2023-11-14 10:21 | Report Abuse

do you think the german will make a second attempt?

Posted by i3lurker > 2023-11-14 10:29 |

Post removed.Why?

Posted by purple70 > 2023-11-14 12:42 | Report Abuse

Having the last laugh!

MAny of those lickers of CEO n TY have disappeared...they were just interested in ensuring getting paid for CYTRO work as well as salries at KNM for underperformance!

Creditor restructuring which was championed to go on went postponed - as ecpected!

The CEO n TY fellows are seasoned hand - now they have their salaries, cushy payments, allowances, bonuses, entertainment fee, fully maintained car which will be in existence until next EGM , when police report of their wrong doing could come by in the event of next EGM going thru!

Posted by purple70 > 2023-11-14 12:42 | Report Abuse

ANy status of the disputed outcome of the biasedly conducted EGM?

Posted by purple70 > 2023-11-14 12:43 | Report Abuse

Some who sold their shares before regn date were allowed to vote fully on their shares! Was that investigated?

Posted by purple70 > 2023-11-14 12:46 | Report Abuse

TY fellow is hopeless! Reliving on past glory of his ancestors...who were had so much of integrity in them than this fellow!

Check out what happened to the Indian guy who bought the rotten MMM form his at inflated price , when the same CEO of KNM was running it to the ground!

That Indina guy's name was Ramesh R

Posted by MrMojo > 2023-11-14 13:23 | Report Abuse

So ermmm....any news from german side? Lol

Posted by haziqaz > 2023-11-14 22:08 | Report Abuse

Cadangan KNM jual FBM Hudson kepada Syarikat Petro MAT FZCO UAE ditolak Kerajaan Itali

https://thecorporates-secret.com/blog/2023/11/14/cadangan-knm-jual-fbm-hudson-kepada-syarikat-petro-mat-fzco-uae-ditolak-kerajaan-itali/

Posted by Strategistinvestlam > 2023-11-14 22:40 | Report Abuse

The Company attended the Case Management today fixed for the Erinford Order Application. The Court fixed the hearing on 24 November 2023. The ad interim Erinford Order granted earlier will remain in force until 24 November 2023.

Posted by Selena Yeoh > 2023-11-15 10:31 | Report Abuse

When is the case management for Flavio and Tan Koon Ping? Hmm... that should be a good movie also.

Posted by Strategistinvestlam > 2023-11-15 10:54 | Report Abuse

Selena Yeoh ,I don’t think that is too relevant just a show to exposure both of them should repay back company something else for cover certain losses they built on

Posted by Strategistinvestlam > 2023-11-15 11:04 | Report Abuse

Anyway my opinion is :knm is just for those who aim for long term small bet on can get huge and highest profits probability :we need to give confidence on dato Tunku yaacob khyra due to their team solved many pn17 companies and brings them out from pn17 successfully like MAA melewar macron and Tokio marine ;they are a market repair beast not small potato team ;in records they usually used few years to lifted out from pn17 so short term and no holding power investor are not encouraging attempt this counter

Posted by OtisKL > 2023-11-15 11:31 | Report Abuse

@Strategistinvestlam, thank you for the explanation. So, referring to the SOA that's been denied by the High court, has there been any revision done by Mr Ho team to improvise it, as well as the ES. I understand Mr Ho has experience in debt restructuring, wonder why it could fall short? By the way, is Sec382(2d) of CA2016, reference to a representative of creditors is fulfilled now?

Posted by OtisKL > 2023-11-15 11:36 | Report Abuse

In my personal opinion, engaging with the creditors of any class is the best option to move ahead, although the laws says you need 75%, it gives heavy weights if a consensus is reached. When the company is seeking EOT on repayments of debts with a guarantee of full settlements, while ensuring continuity in supply and business partnerships, I do not see a reason why they should reject it.

Posted by OtisKL > 2023-11-15 11:41 | Report Abuse

The court-appointed liquidators and the company should engage with its own independent liquidators to study and come up a report why EOT is better than outright liquidations. The company should consult BNM assistance too, as it involves vast numbers of stakeholders in bigger proportion.

Posted by Strategistinvestlam > 2023-11-15 14:49 | Report Abuse

@otisKL ya agree with it,need to keep tracking cause lot of particular they need to reprepostion of :due to they need to time by time keep reshuffled their liquidation plan to adopted fulfill the high court guidelines system ;I think MAA and dato Tunku yaacob khyra will tried their best to maintain knm group listed status :if not no worthy they bought in such crown oil and gas field into their listed company leg and see it failed …..we keep catching on their announcements and news see how the progressives

Posted by OtisKL > 2023-11-15 17:27 | Report Abuse

@Strategistinvestlam, thanks for the input, truly appreciate it. Hope for the best then....

Posted by Vhydro > 2023-11-15 21:51 | Report Abuse

Lam, you are here ah.

Posted by MrMojo > 2023-11-16 12:02 | Report Abuse

German side no news?
Knm also no news.
Nothing to enjoy le.....

Posted by OtisKL > 2023-11-16 15:14 | Report Abuse

Did anyone follow other indirectly related counters of KNM? MAA Group shares going up 35% to 47sen! wow, someone is really getting richer now... with the disposal of MAA's insurance arm in the Philippines for nearly RM234mil, they are a cash-rich company now.

Posted by Strategist Invest Lam > 2023-11-16 16:01 | Report Abuse

@OtiskL yes all related with dato Tunku Yaacob share my insider groups bought on 120-170 days before all disposal this time :MAA earned near 100% Mycron 30% Melewar 12% and previous 300% of knm nett; now aiming second round of knm released pn17 can earn how many fold on it

Posted by Strategist Invest Lam > 2023-11-16 16:08 | Report Abuse

Our groups really Sincerely thanks to dato Tunku yaacob contribute us so huge gift as we thought we need to hold for 3-5 years but jackpot just hundreds days to accumulating eś

Posted by OtisKL > 2023-11-16 16:28 | Report Abuse

@StrategistInvestLam, yes, indeed. I am a student, almost done with my thesis on KNM as one of the case studies. The share price fluctuation and the series of news and rumours as "human perceptions" in relation to the share prices were amazing, not for the weak hearted people. Further, I was following all other counters, including Tunku Yaacob's group, and Tengku Kamariah's group, it's very interesting indeed.

Posted by Strategist Invest Lam > 2023-11-16 16:37 | Report Abuse

@OtisKL yes,if u study back pass 20years history record :u will found more crazy story from all their pn17 companies who get rescue restructure teams are totally insane crazy :used many unbelievable method always make the scenarios dramatics, agree with u no bravery heart people can’t handle it last time I also very saluted to my belated insider fathers teams can handle them so many years on it

Posted by Vhydro > 2023-11-16 21:28 | Report Abuse

hahaha

Posted by OtisKL > 2023-11-17 10:50 | Report Abuse

Good morning everyone. Something that made you happy, I suppose, @Vhydro. I'm glad for you.😚

Posted by MrMojo > 2023-11-17 11:44 | Report Abuse

This management should engage with the public n give more confidence.
Typical arrogant management la.
At least give shareholders some news n confidence.
Uncertainty will kill any company.
Btw somehow i think the appeal on the ro well be rejected of they dun have any concrete plans to show

Posted by MrMojo > 2023-11-17 11:45 | Report Abuse

With german team also no news, knm doesnt look too good.
I am sorry to say bros